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India's government battled pressure from a united opposition on its November 25 decision to open up the country's retail sector, worth an estimated $450 billion, to international brands like Tesco and Wal-Mart. The cabinet in New Delhi took the decision to allow 51% foreign investment in multi-brand retail stores and up to 100% in single brand retailers in cities with a population of more than one million.
Inflation in Asia may have passed or reached its peak this cycle. In its annual Financial Stability Review released on November 18, the Monetary Authority of Singapore said that while inflation rose for most Asian economies in the first half of the year, the worsening global economic outlook has helped contain inflationnary pressures in October. "Inflation appears to have peaked in most Asian economies,"
A little after Rahul Dravid reached his 34th test hundred on the second day of the India-England test match at Trent Bridge, Nottingham, Alan Wilkins expressed his gentle displeasure to fellow commentator Ravi Shastri about the nickname ‘Wall’ given to the Indian batsman. “A wall can be brought down”, he argued – thereby implying that […]